Zurich, Switzerland (PANA) - FIFA says it lost US$ 369 million in 2016 and expects to incur further losses in 2017.

In its latest financial report issued recently here, FIFA said it is projecting a deficit of US$489 million in 2017, but says it expects a bumper year in 2018, with the television deals for the World Cup in Russia likely to help it meet its target for the 2015-18 period of a US$100 million profit.

It said that legal costs rose because of the scandal that engulfed the organisation in May 2015, when US and Swiss authorities arrested top football officials at a luxury Zurich hotel as part of an investigation into allegations of criminal misconduct, bribery and corruption. The officials were gathered for a FIFA annual congress when they were arrested.

A raft of governance reforms have followed and FIFA has worked to co-operate with the authorities, although spending on legal costs was up to US$ 50.5 million, as against the US$20.2 million spent the year before.